Beta Glass Plc has announced the appointment of Mr. Timothy Ononiwu as its new Chief Financial Officer, with the change becoming effective on July 1, 2026. This appointment was disclosed in a statement dated June 26, 2026, and signed by the Company’s Secretary, DCSL Corporate Services Limited.
Mr. Ononiwu takes over from Mrs. Helene Paradisi, who has resigned from her position. Mrs. Paradisi will continue to support the company until December 2026, assisting with the transition process and specific strategic projects.
The company stated that this appointment aims to ensure continuity in financial leadership and sustain the momentum of its growth strategy. The Board of Directors expressed appreciation to Mrs. Paradisi for her contributions to the company’s growth and development during her tenure.
Alexander Gendis, Beta Glass Chief Executive Officer, welcomed Mr. Ononiwu, highlighting his extensive experience. Gendis noted, “We are delighted to welcome Timothy to Beta Glass. His proven track record in financial leadership, capital management, funding strategy and business transformation will be instrumental as we continue to strengthen our financial position, support future growth investments and deliver sustainable value to our shareholders.”
Mr. Ononiwu joins Beta Glass with over 30 years of experience across the energy and infrastructure sectors, encompassing finance, corporate leadership, and business transformation. He holds a Bachelor’s Degree in Accounting from New Jersey City University and an MBA in Finance and International Business from Columbia Business School.
Throughout his career, Mr. Ononiwu has held senior leadership positions at BBVA Securities, Geometric Power Limited, and Axxela Limited. At Axxela, he served as Chief Financial Officer for seven years before assuming broader executive responsibilities, where he played a key role in driving strategic growth, improving financial performance, and enhancing operational efficiency.
This appointment comes as Beta Glass navigates a more challenging operating environment. For the first quarter ended March 31, 2026, the company reported revenue of N37.54 billion, a decrease from N41.16 billion recorded in the corresponding period of 2025.
Profit after tax for Q1 2026 declined by 21.48% year-on-year, falling to N7.85 billion from N9.99 billion in the prior-year period. Similarly, earnings per share (EPS) decreased to N13.08 from N16.66 in Q1 2025, reflecting softer profitability amid prevailing market conditions.
Despite the decline in earnings, Beta Glass remains one of Nigeria’s leading glass manufacturing companies. The company expressed confidence that the transition would be seamless and that the finance function would continue to provide strong support to management, investors, and other stakeholders, supporting its financial strategy, capital allocation decisions, and long-term growth ambitions.
